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Mulberry Sales Soar 5.3% on Festive Cheer
14 Jan
Summary
- Mulberry reported a 5.3% revenue increase in the third quarter.
- Full-price retail sales surged by 19% due to strong demand.
- The company's strategy focuses on British heritage and domestic customers.
Mulberry, the luxury handbag manufacturer, reported a robust 5.3% increase in revenue for its third quarter. This growth significantly outperformed the challenging UK retail environment, where consumer spending slowed. The company's strategic emphasis on its "British heritage" and prioritizing domestic customers has proven effective.
This strategy has successfully driven full-price sales, which experienced a notable 19% increase. Popular designer lines such as Roxanne, Hackney, and Bayswater saw strong demand. Mulberry's approach also facilitated growth in international markets, including the U.S., Europe, and Asia Pacific.
Chief Executive Officer Andrea Baldo stated that disciplined cost control, combined with appealing products at the right price points, has been key to their success. This focus has helped reconnect with existing customers and attract new ones, positioning Mulberry for continued positive performance.
